H.R. 6125 · 102nd Congress · enacted
Farm Credit Banks and Associations Safety and Soundness Act of 1992
Became Public Law No: 102-552.
Latest official action 1992-10-28 · Enacted
The bill, briefly
Farm Credit Banks and Associations Safety and Soundness Act of 1992 - Title I: Improvements to Farm Credit System Safety and Soundness - Amends the Farm Credit Act of 1971 to set forth qualifications for Farm Credit Administration (FCA) board members. Redefines "permanent capital." Title II: Farm Credit System Insurance Corporation - Makes the Farm Credit System Insurance Corporation (FCSIC) successor to the Farm Credit System (FCS) Assistance Board in the case of capital presentation agreements that certify certain banks as eligible to issue preferred stock to the Farm Credit System Assistance Corporation (Corporation). Requires the General Accounting Office to study and report to the Congress on: (1) risk-based FCSIC premiums; (2) possible Farm Credit System Insurance Fund (Fund) authority to assess associations directly; (3) possible supplemental FCSIC insurance premiums; (4) the benefits of consolidating district banks into regional banks; (5) FCS institutions' overhead expenses; and (6) potential savings if FCS institutions and the FCA were required to comply with certain Government office standards. Title III: Repayment of Farm Credit System Debt Obligations - Amends the Farm Credit Act to require an institution terminating FCS status to pay to the Corporation the estimated present value of future principal otherwise required had it remained in the FCS. Recognizes any su…
Congressional Research Service · 1992-10-03
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Amount spent specifically on this bill: not disclosed
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Politicians behind the bill
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What happened after enactment?
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